International broker Aon has announced its acquisition of Stroz Friedberg, a leading global cyber risk management firm based in New York.
The brokerage giant acquired the global firm through its risk management business, Aon Risk Solutions
. Financial details of the transaction were not disclosed.
The acquisition is seen to position Aon as the global leader in cyber risk management and brokerage with the integration of Stroz Friedberg’s cyber security governance and advisory services, which include penetration testing, incident response, digital forensics, eDiscovery and due diligence capabilities.
The transaction also combines the companies’ teams on cyber risk transfer, mitigation, advisory, and response, with more than 550 Stroz Friedberg employees expected to join Aon’s Cyber Solutions Group.
Stroz Friedberg chief executive Michael Patsalos-Fox will become the CEO and co-chair of the new group. John Bruno, Aon’s executive vice president of enterprise innovation and chief information officer, will join as co-chair.
“This acquisition will allow Aon’s clients to have access to the most advanced thinking and solutions in the industry; improving their proactive posture to confront cyber risk and respond more effectively in the event of an attack,” Bruno said.
“Aon and Stroz Friedberg have highly complementary end-to-end cyber risk management solutions and services,” he added. “This bold step greatly expands Aon’s cyber solutions and differentiates us from our competition while accelerating innovation on behalf of our clients.”
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